NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Intelsat S.A. ("Intelsat” or "the Company") (NYSE: I) on behalf of shareholders who purchased Intelsat securities between November 5, 2019 and November 18, 2019, inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/i.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, defendants made false and misleading statements to the market. The complaint alleges that Intelsat violated the Exchange Act by selling a block of the Company's shares while holding material non-public information, including the fact that the Company had met with the FCC on November 5, 2019, regarding the private sale of wavebands controlled by Intelsat for future "5G" use (the "C-Band"). The FCC opposed the Company's existing plans for a private sale of the C-Band, preferring a public auction. The FCC announced a public auction of the C-Band on November 18, 2019, contrary to the Intelsat wishes, its stock dropped 40%.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/i or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Intelsat you have until June 8, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.